Top CD Rates in Los Angeles at Schools Federal Credit Union

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APYMINMAXINSTITUTIONPRODUCTDETAILS
1.30*%$90k-Schools Federal Credit Union60 Month CD
1.00*%$90k-Schools Federal Credit Union48 - 59 Month CD
0.80*%$90k-Schools Federal Credit Union36 - 47 Month CD
Accounts mentioned in this post. Rates as of October 1, 2016.

Schools Federal Credit Union has three competitive long-term certificate rates. The best rates require a $90K minimum deposit and a Platinum Rewards relationship. These include a 2.33% APY for 5 years, 2.08% APY for 4 years and 1.84% APY for 3 years. Rates are 2 basis points lower for a $50K minimum and 6 basis points lower for a $2K minimum. These rates are listed in the credit union's deposit rates page as of 2/7/2012.

According to the credit union's Relationship Rewards page, the bonus rate for the Platinum Level is 10 basis points. The Platinum Level requires either a combined household loan and deposit balances of $50,000 or both checking with direct deposit of at least $500/month and a combined household loan and deposit balances of $20,000.

Unfortunately, not everyone in the LA metro area can qualify. Credit union membership is limited to employees of several school districts and colleges. Students of several colleges can also qualify. The credit union does list two organizations which may allow those not employed with the schools to qualify. They're the Parent Counsel and the Boys & Girls Club of East LA. Another way to join for those not connected with these schools is through their relatives. In addition to immediate family members, you can qualify if your nieces, nephews and cousins are members. For the full details, please refer to the credit union's Who We Serve page.

The credit union has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas Ratio of 23.99% (average) based on September 2011 data. Please refer to our financial overview of Schools FCU for more details. The credit union is federally insured by the NCUA (Charter # 3526).

How These CD Rates Compare

The best 5-year CD rate that's nationally available is 2.60% APY at Digital Credit Union. This requires a $25K minimum deposit and Relationship Checking. Without this relationship, the rate is 2.35% APY for a $25K minimum and 2.25% APY for a $500 minimum deposit.

The best 3-year and 4-year CD rates are 1.90% APY and 2.20% APY at Fort Knox Federal Credit Union.

These rates are accurate as of 2/7/2012.

Searching for the Best CD Rates

To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com.

Edit 9:40pm ET 2/7/12: Correction in the FOM paragraph.

Comments
me1004
me1004   |     |   Comment #1
Actually, that is two different groups you can join in order to qualify for membership in the CU. 

One is Boys and Girls Clubs of East Los Angeles, which you can join for $10 (or for free, but for that you probably can't afford to open a CD anyway):

'Boys & Girls Clubs of East Los Angeles is a private, non-profit agency, founded in 1954, affiliated with Boys & Girls Clubs of America. Membership is $10 per year or free with proof of financial hardship."

http://www.bgcela.bbnow.org/index.php
KenBDG
KenBDG   |     |   Comment #2
Thanks for catching that mistake and finding the organization websites. I've updated the post with the correction.
4.05% 12-Month / 4.15% 24-Month CD at a California CU (Schools)
Update 4/05/08: The CD rates have fallen. The new 12-month yield is 4.05% APY and the 24-month yield is 4.15% APY. These yields are for a $2K minimum deposit and without Platinum Reward relationship. The title has been modified to reflect this change.

Schools Federal Credit Union is listing some competitive certificate rates. The lowest rates without the Platinum Reward relationship and with only a $2,000 minimum deposit include 4.45% for 3 to 5 month terms, 4.50% APY for 6 to 11 month terms, 4.55% APY for 12 to 59 month...

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